Krilogy Financial

Investment Committee & IA Department Report, 2019 Volume One

Market Correction: What Happened and What’s Next This is an environment requiring vigilance. While we expect volatility to continue near-term, it is important to remember that the last two episodes of similar volatility, 2011 and 2015-2016, proved to be long-term buying opportunities. A decade of consecutive, positive annual S&P 500 returns ended in 2018. In the final three months of…

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Krilogy Financial

Investment Committee & IA Department Report, 2018 Volume Three

Positive Fundamentals Overcome Trade Uncertainty in Q3 The third quarter was the best-performing quarter for markets so far this year as the major U.S. stock indices each hit new all-time highs. The broad market gains were driven by strong economic data, solid earnings growth and improved clarity on global trade. Interestingly, those positive factors were often overlooked as news headlines…

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Krilogy Financial

Investment Committee & IA Department News, 2018 Volume Two

Strong Earnings Mixed with Trade Conflict Concerns Markets remained volatile in the second quarter of 2018, as a series of political and geopolitical events caused temporary pullbacks in stocks. But in contrast to the first quarter, U.S. economic growth and corporate earnings reminded investors of still-strong economic and market fundamentals. Subsequently, the major U.S. stock indexes were able to finish…

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Krilogy Financial

The Push-Pull Between Strong Earnings and Higher Rates – 2018 Volume One

It’s hard denying that 2017 was a record-setting year for the S&P 500 from various perspectives. Of note, every month experienced a positive return for the first time since 1928. Not only was this historic feat accomplished in the face of what seemed to be plenty of headline risk, but it was done so with historically low volatility. Specifically, the…

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Krilogy Financial

Investment Committee & IA Department News – 4th Quarter 2017

Late Cycle “Reflation” and What it Means Last quarter we speculated as to whether or not corporate earnings would play catch up or if the gap between the price of the S&P 500 and the Earnings Per Share (EPS) growth for the S&P 500 would continue to widen. Well, given the continued resilience of the stock market, the gap has…

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Krilogy Financial

Investment Committee & IA Department News – 3rd Quarter 2017

Stocks vs. Bonds and What Matters Most We continue to find ourselves in the second longest bull market since World War II and the second most expensive in the same period.2 However, that doesn’t mean it can’t last, as it’s also been one of the slowest bull markets, from a growth perspective. There has been plenty of discussion in the…

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Krilogy Financial

Investment Committee & IA Department News – 2nd Quarter 2017

ASSET ALLOCATION AND MANAGING RISK Is it any wonder we see the significant rise in “passive” investing, or indexing, when only 19% of large cap managers outperformed their benchmark in 2016? Further, I’m sure it’s not too surprising that we saw record inflows into passive strategies during the first quarter this year in both equity and fixed income. In 2016,…

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Krilogy Financial

Investment Committee & IA Department News – February 2017

Fear the Consensus? As we transition into 2017, it’s fair to say that 2016 was a test in fortitude as it relates to investing, a year littered with skepticism and uncertainty. After experiencing a sell-off at the beginning of the year of over 11% in the S&P 500, as well as volatility around the Brexit vote in June to name…

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Krilogy Financial

Investment Committee & IA Department News – November 2016

BREAKOUT OR BREAKDOWN? With the S&P 500 having spent the last 3 months in a tight 3% trading range, the question on the mind of many investors relates to the direction that this range-bound market ends up moving in and how a Trump Presidency may influence it. Prior to the election outcome, very few had the stated expectation that the…

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Krilogy Financial

Investment Committee & IA Department News – August 2016

New all-time highs for the S&P 500, so what’s next? As we advance through the 3rd quarter of 2016, we have seen a broad-based consistency in returns amongst many asset classes this year, which starkly contrasts to what we, as investors, had experienced in 2015, when virtually nothing seemed to work. In a somewhat refreshing change, the historically higher beta…

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